LAVALLETTE — A property revaluation costing upwards of $500,000 could be ahead for Lavallette pending the outcome of an appeal to the county tax court.
The Ocean County Board of Taxation has denied a request by Lavallette to delay a revaluation of borough properties, citing the fact that properties have not been revalued for over two decades.
“The denial of the request was due to various factors. Lavallette Borough has not performed a municipal wide revaluation in 26 years or a reassessment in 14 years,” Chelsea Skuby, county tax administrator, stated in an email to The Ocean Star.
Borough officials estimate that a total revaluation would cost over $500,000, according to Borough Administrator Robert Brice. A revaluation is not accounted for in the borough’s budget, but could be paid for by “a five year special emergency note,” Mr. Brice said.
“We’re really not interested in doing a reval of the entire town at this point. A: it’s going to cost $500,000 at least. B: We’ve got about 20 percent undeveloped which will not be captured by the revaluation,” said Mayor Walter LaCicero.
The mayor added, “We want to get as much of the new construction from [Superstorm] Sandy completed as possible under a new revaluation and right now that wouldn’t be the case.”
However, Ms. Skuby said it is important that the post-storm value of properties is reflected in the property assessments.
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